Trending

Stories

Tata Sons Arm to Acquire a Controlling Stake in Tejas Networks

Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

WP Rocket - WordPress Caching Plugin

Must Read

Pantone Finvest Limited, a Tata Sons Private Ltd subsidiary, plans to acquire a controlling stake in telecom equipment maker Tejas Networks.

Pantone Finvest will buy a 43.3 percent stake in Tejas Networks for Rs 1,850 crore. Along with other Tata Group companies, Pantone would publicly announce acquiring up to another 26 percent stake in Tejas.

Also Read

Tejas Networks has executed definitive agreements with Pantone.

In a regulatory filing, Tejas said that it sees a very large opportunity in the telecom sector both in India and global markets with the new cycle of investments in 5G and fiber-based broadband rollouts.

Elegant Themes - The most popular WordPress theme in the world and the ultimate WordPress Page Builder. Get a 30-day money-back guarantee. Get it for Free

Tejas Networks will utilize the proceeds raised from the preferential allotment to invest organically and inorganically in the research & development, sales and marketing, people, and infrastructure and to enhance its manufacturing and operational capabilities to cater to this large market opportunity, and for another general corporate purpose.

Saurabh Agrawal, Executive Director of Tata Sons Pvt Ltd, said: “We are excited to partner with Tejas Networks, India’s leading telecom and network company with a strong DNA of R&D. We look forward to working with the highly experienced management team of Tejas Networks and creating a full stack of globally competitive wireline and wireless products.”

Sanjay Nayak, CEO and Managing Director at Tejas Networks, said: “We are privileged to be part of the Tata group, which has a rich legacy as India’s most visible and trusted business brand. Tejas Networks was started with a vision of creating a top-tier global telecom equipment company from India. The association with Tata group will accelerate the realization of this vision and enable us to address the large market opportunity available to us to build a financially strong global company, backed by a trusted brand.”

Sanjay Nayak will continue as Managing Director and Chief Executive Officer to lead Tejas Networks and the existing management team through the next growth phase.

Shares of Tejas Networks touched the 5 percent upper circuit post the announcement.

Around 10.55 p.m., its shares were at Rs 246, higher by Rs 11.70 or 4.99 percent from its previous close.

iThemes WordPress Hosting

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

Latest

Stories

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.
Elementor

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.

Kinsta

Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.

OptinMonster

OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.

Related

- Advertisement -
- Advertisement -
DJI Mini SE 2 Will Make its Debut On Feb 9 Motorola Launched Mote E13 Smartphone in India Google Pixel 4 and 4 XL Get Last Update WhatsApp Introduces 5 New Features For Status Updates OnePlus First-ever Tablet Launching in India Today ChatGPT Reaches 100 Million Users in Two Months Microsoft’s Teams Get OpenAI-Based Features WhatsApp New Feature that Allows Users to Create Calling Shortcuts Instagram Working On Twitter-like Paid Verification Feature OnePlus Ace 2 Specs Exposed Online
DJI Mini SE 2 Will Make its Debut On Feb 9 Motorola Launched Mote E13 Smartphone in India Google Pixel 4 and 4 XL Get Last Update WhatsApp Introduces 5 New Features For Status Updates OnePlus First-ever Tablet Launching in India Today ChatGPT Reaches 100 Million Users in Two Months Microsoft’s Teams Get OpenAI-Based Features WhatsApp New Feature that Allows Users to Create Calling Shortcuts